Abstract: In order to solve the problem of managers’adverse selection and moral hazard brought by the principal-agent relationships of modern firms,owners should establish a set of optimal incentive payment schemes to ex-cite and restrict their behaviors,and hence managers can take effective action for owners in terms of their own benefits.The optimal incentive payment scheme contains five components:fixed-income,informational rent,risk compensation,incentive compensation and the managers’market price.The output-payment of manager is re-lated with the industrial types of an enterprise.

Key words: principal-agent, adverse selection, moral hazard, optimal incentive payment scheme, industrial types